What goes in an investor’s and a founder’s mind, especially when they are bought together on the same couch. In conversation with Anurag Batra, Rajesh Kamat and Vivek Raicha of Emerald Media. The deals that couldn’t materialize? “When you walk into the deal, companies come to you with a hockey stick in the P&L. But when we start the diligence process, we realize that the same hockey stick was not as steep as projected”. Taking the conversation further, Vivek Raicha goes on to add how things take a course of change from the time they start looking at the company’s numbers, to the time they make an actual investment.